Strategic alliances are among my favorite topics to write about. They can add so much value and growth to a company. In this knowledge base I share what I have learned in my experiences with strategic alliances.
What is a strategic alliance?
A strategic alliance is not just another partnership. It does not solely focus on collaboration, but per definition is focussed on the long term. Partners will contribute part of their resources to realize the success and will in exchange receive part of the control and benefits from the alliance.
The definition of a strategic alliance is:
“A strategic cooperation between two or more organizations, with the aim to achieve a result one of the parties cannot (easily) achieve alone.”
Since strategic alliances are about joining forces for the long run, it is an ideal strategy to make your company future proof and resistant to fluctuations on the market.
Are they part of your strategy?
When it comes to business strategy, alliances are often part of the execution approach. Rightfully so, establishing alliances is an essential way to grow the company more efficient and effectively. It is however essential to establish a clear alliance strategy. How about your organization, do you have a clear alliance strategy?
How to stay clear from the high failure rate?
If carried out thoroughly, strategic alliances are a great tool to grow your organization. Yet, we see a high failure rate when it comes to alliances. To stay clear from this disappointment, there are many things you can do. The most important thing to do is build your skills. Read about alliance success and failures and apply these lessons. There are some excellent books out there, but to start you can also look into the blogposts listed below.
If you would like more guidance in your alliances, there is always the opportunity to ask for help. As an experienced business coach specialized in strategic alliances, I can help you jumpstart your alliance success.
- Internal Strategic Alliance Definition
- Why Strategic Alliances Are Important In Today’s Business Climate
- How to steer clear from the high failure rate of Strategic Alliances
- What should your CEO know about strategic alliances?
- All you need to know for your strategic alliances
- What is a strategic alliance for you?
- CBP-50: Putting Strategy back in Strategic Alliances, with Ben Gomes-Casseres
- What my Volvo shares with Strategic Alliances
- What is a strategic alliance?
- The successful 6 step approach for strategic alliances
- Are strategic alliances part of your strategy?
- Three more C’s for Strategic Alliances
- Partner selection in strategic alliances
- The first phase of starting strategic alliances